For well-known stocks other than Coca-Cola and Xishi Candy, Buffett is not a long-term investor as everyone imagined. Investors have always thought that Buffett’s investment style is very scattered, but on the contrary, Buffett’s top five stock positions in his portfolio can account for more than 70% of his entire portfolio. Decentralization can preserve wealth, but centralization will increase wealth —

　　Just after the May Day holiday in 2019, the Warren Buffett shareholders’ meeting held in Omaha, a small American town, attracted many investors to queue up for admission not far from Wan Li. Since the first general meeting of shareholders in 1964, the "stock god" has basically not let investors down. In this year’s six-hour question-and-answer session, the scope of the questions involved investment, science and technology, human nature and so on. Buffett admits that he is no longer the kind of "value" investor in his early days. Many of his investment income comes from some more "expensive" companies. What is the strategic change of the stock god? Or have investors always misunderstood Buffett?

　　Why don’t you favor bargains anymore?

　　Buffett’s teacher is Benjamin Graham, the author of Securities Analysis. Graham’s most famous investment philosophy is "value investment". One of the most important characteristics of the so-called value investment is to buy a company that you are optimistic about at a cheaper price. Buffett himself described his investment philosophy as such: he likes to buy "cigarette butt" stocks.

　　What do you mean by "cigarette butt stock"? For example, investors see a cigarette butt that is about to burn out on the road, and pick it up when no one picks it up. Similarly, buying cheap stocks that no one buys is also called the "cigarette butt stock" strategy. This strategy can be seen everywhere in Buffett’s early investments.

　　In the 1980s, when Buffett bought Coca-Cola, the price was horribly low. But since he met his partner Munger in the 1970s, Buffett began to change, not just pursuing low-priced stocks. Xishi Candy is the most representative case of his change in investment philosophy.

　　In Munger’s words, if it is a very good bid, it is worthwhile to pay a little more! Therefore, the company Xishi Candy was acquired at a price higher than the book value, and it succeeded.

　　Has Buffett’s concept of value investment changed? Xia Chun, chief research officer of Noah Holdings, believes that high-quality stocks contribute the most to Buffett’s investment income, followed by large-cap stocks with little fluctuation, and then the so-called value stocks.

　　For well-known stocks other than Coca-Cola and Xishi Candy, Buffett is not a long-term investor as everyone imagined. If the holding period of Buffett’s traded stocks is arranged from short to long, the holding period ranked in the median is actually not long. Many of his transactions are completed in one year, and sometimes the holding period is only three months.

　　Buffett’s value investment concept is also called "deep value investment", which is completely different from the way of only looking at the price and buying assets at low prices.

　　Xia Chun believes that companies with low profits or even negative profits may be easily sought after by the market because they are cheap and have great potential. However, a truly high-quality company’s share price may not be cheap. As long as the current high-quality company’s share price is not so outrageous, it may bring benefits to investors in the future, which is the essence of Buffett’s stock selection strategy.

　　In Buffett’s own words, the "value" in value investment is not an absolute low P/E ratio, but a comprehensive consideration of various indicators of buying stocks. For example, whether it is the business that investors understand, future development potential, existing revenue, market share, tangible assets, cash holdings, market competition, etc.

　　Yang Delong, executive general manager of Qianhai Open Source Fund Management Company, believes that Buffett used to mainly invest in consumer stocks and financial stocks, but rarely invested in technology stocks, which allowed him to avoid the bursting of the American science and technology bubble in 2000, but at the same time missed the great development of technology stocks in recent ten years. Buffett corrected it in time and invested in technology stocks such as IBM, Apple and Amazon.

　　Summarize Buffett’s investment philosophy in one sentence: "If I want to buy high-quality stocks, I will definitely buy them when they are discounted." There are two key points in this sentence: first, it must be a good stock, and second, the buying time must be at a discount. It can be seen that Buffett’s value investment philosophy is not simply to choose cheap stocks and poor performance stocks, but to pay attention to those stocks with high quality and good development prospects. The two strategies and two kinds of wisdom of stock selection and timing are contained in it.

　　Decentralization or centralization

　　Leverage, fund allocation and short-term speculation … … Will these familiar words of domestic A-share market investment be found in Buffett’s dictionary? Buffett once said, "The only way for smart people to die is to add leverage." In the usual thinking, Buffett is a value investor and should disdain to use these speculative strategies, but it is not.

　　Xia Chun said that from 1980 to 2006, Buffett’s most common stock holding period was one year, and the second common holding period was three months. The label of "long-term investor" that ordinary investors labeled Buffett was not completely accurate.

　　Xia Chun believes that Buffett is very opposed to ordinary families adding leverage, borrowing money for stock trading or allocating funds for stock trading. However, Buffett himself is very good at adding leverage, and Buffett’s leverage is as high as 1.7 times.

　　In addition to leverage, another big problem that ordinary investors are struggling with is whether to "put eggs in different baskets". Or concentrate on investment?

　　Investors have always thought that Buffett’s investment style is very scattered, but on the contrary, Buffett’s investment is basically concentrated in a few stocks. The top five stock positions in Buffett’s portfolio can account for more than 70% of his entire portfolio. At least, there are only five stocks left in his entire position. Buffett advises everyone to diversify their investments, but he is a master of centralized investment. He believes that extensive diversification is generally used when investors are not fully aware of what they want to do. Decentralization can preserve wealth, but centralization will increase wealth.

　　In addition to Coca-Cola and other well-known secondary market stocks, Buffett is actually a master of private equity investment. Over the past 10 years, Buffett has criticized private equity and hedge fund managers on many occasions, so investors generally think that Buffett doesn’t like private equity investment and hedge fund trading. But few people know that Buffett left his legacy to start a business by trading hedge funds, mainly buying and selling stocks and bonds of listed companies.

　　Now, most of Buffett’s Berkshire investments are non-listed companies. Buffett is more like a private equity fund manager. In his portfolio, the investment of non-listed companies accounts for about 70%.

　　Xia Chun said, "Whether you use speculative strategies such as leverage or enter the field of high-risk non-listed companies’ equity investment, you must have enough key knowledge, and at the same time, you should judge high-quality companies accurately."

　　Is Buffett’s strategy suitable for A shares?

　　At the Buffett Shareholders’ Meeting in 2018, Buffett maintained a positive and optimistic attitude towards China’s economy and market. At this shareholders’ meeting, Buffett once again said: "China is a big market, and we like big markets. It is very important for China and the United States to get along well. Before China had a new policy of opening wider to the outside world, we were already in contact with China. Berkshire has bought some China stocks before, but the number is not particularly large, and some bigger deployments may be made in the next 15 years. "

　　So, is Buffett’s strategy ineffective if he gets A shares? According to the retracement calculation of Li Xunlei, chief economist of Qilu Asset Management under Zhongtai Securities, according to Buffett’s stock selection principle, A-share investment may also get high returns. Buffett stressed that companies with high ROE (return on net assets) must be selected and bought at a low PE (price-earnings ratio), believing that the valuation is relatively reasonable when PE and ROE are similar (for example, PE is 20 times and roe is 20%). According to these indicators, the net value of "high ROE+ low PE" strategy in the A-share market has increased by 246% in the past 10 years, while the Shanghai and Shenzhen 300 index has increased by 66% in the same PEriod. Most of the strategies have achieved positive excess returns, which shows that the stock selection standard of "high ROE+ low pe" is generally effective in the past 10 years.

　　Li Xunlei said that some people misunderstand that value investment is not acclimatized in A-shares, perhaps because in the impression of many A-share investors, A-shares are greatly influenced by policies and have a high degree of irrationality, so value investment may not be applicable in A-shares. This may be related to the fact that most people pay too much attention to the "bull stocks" with outstanding short-term performance. If we focus on the annual super bull stocks, we can hardly see the shadow of value stocks, which may be the reason why value investment is not acclimatized in the impression of ordinary investors. In addition, because individual investors pay too much attention to short-term returns, they generally pay attention to the so-called "stock-active" stocks with greater stock price fluctuations, especially those with daily limit, and may not be interested in value stocks with relatively stable performance and stock price.

　　At present, many investors believe that Buffett’s success cannot be replicated, but Xia Chun thinks that this is not the case. American regulators require large institutional investors to announce changes in their positions every quarter. Every time Buffett announced the change of his position, not many people followed suit, because everyone thought that the stock price had been reflected in the market. In the future, more and more investors will truly imitate and apply Buffett’s stock selection method. (Economic Daily China Economic Net reporter Zhou Lin)

　　After filming "Langya Bang" and "The Pretender", Hu Ge fell into a period of confusion. He wanted to try some breakthrough roles to give him the urge to create. At this time, he met the director Diao Yinan, and then collaborated on the movie "The Wild Goose Lake". Today, the film was released, fulfilling Hu Ge’s long-standing dream of literary films. He finally shot a transformation work.

　　■ "Reduce the heat and simmer" to find new ways to perform

　　Hu Ge remembered meeting the director Diao Yinan at a restaurant in Shanghai. When Diao Yinan found him through friends before, he was surprised. He had been working in the field of TV dramas, and now a famous literary film director found him and said, "I’m a little flattered." When it comes to the director Diao Yinan’s interest in Hu Ge, it is because of the advertisement on the Armani store near his home that Hu Ge’s handsome image shines brightly. Later, when he saw Hu Ge in a magazine with a rough shape, Diao Yinan felt that this actor has different sides.

　　Over the years, when Hu Ge was filming TV dramas, he used a rush acting method. Time was tight and the intensity was high, so he couldn’t prepare the role properly. Now that he was filming movies, he could finally immerse himself in the role for six months.

　　In the film, Hu Ge plays Zhou Zenong, a wanted criminal who was originally the leader of a car theft gang. He was involved in a turf grab and got involved in a fight. He accidentally killed a police officer and had to flee. During this time, his fate is tied to two women. This is a complex character. In Hu Ge’s mind, Zhou Zenong is a very mature man. His final struggle is to get 300,000 bounty to compensate his wife and children before he is arrested.

　　At the beginning of filming, Hu Ge was still a little worried that he would not meet the director’s requirements, but the director Diao Yinan clearly told him, "I will not let him go easily." Because he was responsible for the work and Hu Ge’s performance.

　　Hu Ge first made himself close to Zhou Zenong in appearance. He had to dry the lamp to make his skin darker; he had to lose weight to make himself more muscular and powerful; he also had to learn Wuhan dialect; and more importantly, he had to step into Zhou Zenong’s inner world. Once the director asked him on the spot, how did he feel? He told the director honestly, "There are good and bad things, whether it is physical or mental pressure." But Hu Ge would not deliberately avoid these, because these negative emotions or physical feelings are the same as Zhou Zenong’s psychological state during the escape process in the film, which is exactly the inner unease that the characters need.

　　At first, Hu Ge thought Zhou Zenong was a slovenly man, but during the fitting, the director told him that Zhou Zenong actually had requirements for himself. His leather shoes were clean, he wore sharp trousers, a nice belt, and his hair was clean. Knowing this made Hu Ge understand the inner world of this character better. He was not a heinous person, and at least he hoped to be responsible for his wife and children.

　　After entering the group, the director asked the actors to read the script. After Hu Ge finished reading the script, he looked up at the director and found that Diao Yinan was in tears. He was completely immersed in the story.

　　■ "Reach the limit" has an extra calmness

　　In the film, the scene where Zhou Zenong shoots and kills a police officer by mistake is a turning point in the character’s character. Zhou Zenong is chased by an opponent with a gun, rolls down the embankment of the provincial highway, and falls into a puddle. In this scene, Hu Ge is exhausted, and his physical and mental strength have reached the limit. But it is also this scene that becomes a watershed for Hu Ge’s performance in the film. "I think the whole person is opened up, and that state is the closest to Zhou Zenong."

　　For Hu Ge, the hardest part was speaking the Wuhan dialect. He was given a language teacher. After a while, he thought he could speak as well as the teacher, but the teacher didn’t think he could. One day, Hu Ge said to the teacher, let me teach you Shanghainese, and he wanted to experience what it was like to be a teacher. After the roles were switched, Hu Ge quickly realized that he had only paid attention to the rhythm, pronunciation and intonation of speaking Wuhan dialect, but ignored the pitch. After finding this trick, he was much more efficient in the process of learning.

　　In a topless scene in the film, Zhou Zenong needs to bandage himself after being shot. To make the character look thinner, Hu Ge avoids drinking water long before the performance, so that his abdomen looks a little shriveled. He tries to keep himself in a haggard, exhausted state.

　　It was very rare that the film was shot in a smooth manner, and Hu Ge had never encountered such a crew before. This was especially helpful for the actors’ creation. Because from beginning to end, the entire mood of the actors was coherent, and there was no need to disconnect their emotions like in the previous film in order to take over the scene. "Of course, the premise is that there is a strong investor who can allow us to create so willfully."

　　As the leader of the car theft gang, Zhou Zenong naturally had a lot of scenes of riding motorcycles, which was not difficult for Hu Ge, because he was a motorcycle enthusiast in life. The first time he went downstairs to the producer Shen Yang’s company to get a paper script, he rode a motorcycle. Shen Yang was shocked when he saw Hu Ge, who joked that he was here to pick up the courier. "I think mastering a skill is still useful for filming. Because many actors have fallen, I didn’t fall."

　　The film was shot around Wuhan during the hot weather, and the heat of Wuhan kept Hu Ge in a state of confusion, making him almost unable to distinguish the boundaries between reality and fantasy. "Sometimes I am me, sometimes I am Zhou Zenong," he believes, this story should have taken place in Wuhan, and if you go to other places, you will not be able to shoot such a feeling. After filming the film, everyone said that he had changed. "I found that I seem to be more calm than usual, which is brought to me by the role of Zhou Zenong."

　　After six months of filming, Hu Ge felt that he had gained a lot and gained a lot of happiness, "I like performing again!"

　　Our reporter, Wang Jinyue, and the picture

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　 　 Xiaodian knows that all the girls have new husbands recently, and that many people have escaped Lee MinHo, Lee Jong Suk and Kim Soo Hyun, but they still haven’t escaped him.

　

　 　 This is your new husband, Song Joong Ki, the actor of first hero YOO SI JIN, the hit Korean drama Descendants of the Sun.

　 　 He just has a face value, a gas field and a figure ~

　 　 Of course, there will be pick up hot chicks ↓

　 　 Wearing a military uniform is domineering, when you don’t wear a military uniform ↓

　 　 Of course, who is the heroine is also very important. If the female one is not a charming and lovely Song Hye Kyo, then it is estimated that the interaction between the two people is sweet and greasy, and everyone is not so excited.

　 　 This drama is about the love story between YOO SI JIN, a peacekeeping soldier, and Mu-Yeon Kang, a doctor. Without the coy process in Korean dramas, the first two episodes have already completed the scenes of falling in love at first sight, hooking up with each other, falling in love, breaking up and reuniting. All kinds of love words and small romances between the two people in front of the screen are to abuse the whole world.

　 　 However, if you like to watch the love between handsome officers and beautiful women, it’s not just Descendants of the Sun. There are also many combinations of male gods and goddesses in military uniforms on the big screen.

Pearl harbor

　 　 In 2001, Hollywood blockbusters were shown in the mainland. In addition to the shocking war scenes, the love story between male one, male two and the heroine is remembered by more people today.

　 　 Ben Affleck, who was only 28 years old at that time, played Rafe, a soldier of the US Air Force. The way he wore a uniform can make people forgive him now.

　 　 Female No.1 was kate beckinsale, who was at the peak of her beauty at that time, and she was gorgeous. She plays Evelyn, a female nurse in a military hospital.

　 　 Two people standing together is really "picturesque".

　 　 The love story of three people is tangled, and Danny (josh hartnett), the second male, is also infatuated with the first female.

　 　 Rafe and Evelyn fell in love. In a war, it was reported that the plane he was driving was shot down by the Germans and killed in the battlefield. His good brothers Danny and Evelyn fell in love with each other in comfort, and Evelyn was pregnant with their own flesh and blood. Who knows that Rafe didn’t die, but after he returned, he faced the situation that his lover and friends fell in love … and in the end, Danny died in the battlefield, and Rafe lived with Evelyn and her son.

　 　 The love in this movie is very tragic. Evelyn, the No.1 female, has experienced the pain of losing her lover twice. Although she can finally get together with her original lover, the film’s reflection on the war is also very obvious.

　 　 When it comes to the love between soldiers and beautiful women, this film is definitely one of the classics.

Waterloo Bridge

　 　 When it comes to the classic love movie of an officer and a beauty, how can you forget this "Broken Blue Bridge" that has been said for decades?

　 　 Lieutenant Roy, played by robert taylor, and Mara, played by Vivien Leigh, are one of the most well-matched screen couples so far. The goddess of goddess in Hollywood’s golden age contributed a screen image that can never be surpassed in the most beautiful years.

　 　 Broken Blue Bridge is a heartbreaking tragedy. Dancer Mara fell in love with Lieutenant Roy, who was returning home for vacation, but learned that Roy was killed after he was recalled to the camp. Mara, who was fired after missing the performance of the troupe, lost everything in her life and was forced to become a prostitute in order to make a living. However, she met Roy who survived … Finally Mara chose to commit suicide on the bridge where they met.

　 　 Decades later, this is still the love of the most beautiful officer and beauty.

Fury

　 　 In Fury, Captain Don Collier played by Brad Pitt is absolutely first hero. Although his face is always dirty, any stop is a big gesture.

　 　 Pete is not the only man in uniform in this film. logan lerman, a former fresh meat, plays Norman, a recruit.

　 　 And Shia La Beouf, the hero of Transformers.

　 　 There are not many love scenes in this film, only between the recruits played by logan lerman and the innocent German girls.

　 　 Although the American and German troops are still at war, there is only a short stay and isolation between Norman, an American soldier, and a German girl.　

　 　 Just after this brief warmth, German artillery shells were fired at their own people at random, and the house where the girl lived was razed to the ground. Norman completed his transformation in the war after experiencing such stimulation again and again.

Human poisoning

　 　 The military romance in this play can be said to be a forbidden love. The Vietnam War hero officer Jin Zhenping (Song Seung Heon) falls in love with Jia Xin (Ji-yeon Im), the wife of a subordinate in the army. Because of its large scale, the film is listed as "19 Banned" in South Korea.

　 　 Song Seung Heon Ouba’s uniform shape is also handsome in the sky ↓

　 　 We dare not show you the forbidden love in the military camp and the larger picture.

　 　 This play is called "the Korean version of Lust, Caution", and its scale can be imagined. However, despite the erotic coat, the officer played by Song Seung Heon was also under great mental pressure after the Vietnam War, so he indulged in an affair with the heroine. Therefore, in addition to the large-scale performance of male gods, the film’s reflection on war can not be ignored.

Wolf Warrior

　 　 Last year, Jason Wu directed and starred in the military film "Wolf Warriors" which won a high box office. In the film, he played the special forces sniper cold front, which can be described as a "iron man". Jason Wu, who is good at kung fu himself, puts on a military uniform, and has a tough temperament of off the charts, thus becoming a uniformed male god with unique personality.

　 　 Although the film is full of blood, there is still some love embellishment. Yu Nan plays the female boss Long Xiaoyun of Lengfeng in the film, and the sexy Yu Nan becomes a heroic female officer here.

　 　 In the film, the brave but rebellious cold front caught the attention of the boss Long Xiaoyun, and there was a faint spark between them.

　 　 After these movies, finally, let’s show the welfare at one time and have a look at the military uniform photos of your Obamas during their service.

Your new husband, Song Joong Ki

Hyun Bin

Rain

Song Seung Heon

Kang Ta

Gong Yoo

Joon-gi Lee

Dong-won Kang

Zo In Sung

　　Affected by the COVID-19 epidemic, the winter vacation in 2020 is unforgettable for Gu Jiayue, who is 8 years old.

　　"During the winter vacation, my parents and I traveled to Australia. The first thing to do every morning is to pay attention to the epidemic situation in China. When I saw the medical staff lying in their seats and others lying on the ground and falling asleep, I was very touched." Gu Jiayue decided to take out all his lucky money and give up his original travel plan to buy masks and other materials that are in short supply in China.

　　As a result, a family of three began a journey of "saving" masks in a foreign country.

　　Gu Jiayue and the mask she brought back from abroad. Photo courtesy of respondents

　　On January 27th in Perth, a family of three first went to several pharmacies and supermarkets near the hotel to purchase. Because it is located in the city center, there are many domestic tourists, and only a small amount of masks and disinfection supplies were bought that day.

　　On January 28th, a family of three went to Manzella, a remote town in Western Australia with few tourists. As soon as they arrived in Manzella, they searched everywhere for pharmacies. Fortunately, they found the masks they needed in a small pharmacy in BangBlier market, and the stock was quite large, but each person was limited to one box. When the clerk heard that a family of three came from China and bought masks to take back to the frontline medical staff, the clerk was very moved and sold all the stocks to them. A total of 150 masks were bought that day, and the whole family was very happy.

　　On January 29th, a family of three went on to Geraldton. They met Jerry, an enthusiastic fellow villager from Shanghai. He went to Australia when he was a college student. It has been 16 years since then. When he learned that the family was not purchasing and wanted to donate masks and other items to the hospital, Jerry was very enthusiastic. He accompanied them to a shop opened by local Australians to buy them, and the shopkeeper gave them a 10% discount when checking out. On this day, he bought 200 masks.

　　On January 30th, Gu Jiayue’s family of three returned to Perth, and continued to drive around pharmacies and supermarkets that they had never been to. Some stores were out of stock, while others were limited in purchases. But after all, everything pays off. They ran from store to store, bought a few, and bought more than 100 masks sporadically.

　　On January 31st, I was ready to return to China. I started packing the night before. After counting the number, I found that through the mobilization of the whole family, the whole family bought more than 400 N95 masks, plus medical disposable masks and other materials, totaling nearly 1,000.

　　"Although I am very tired, I have spent all my lucky money, but my parents and I feel very gratified. We must send these masks to the places where we need them as soon as possible." Gu Jiayue said.

　　"The wonderful trip has become an unforgettable trip to find a mask, and there is a deep feeling behind each mask!" When Zhou Wei, the head teacher of Class Two (2) of Shanghai Private Foreign Language Primary School, heard of Gu Jiayue’s voluntary action, she persuaded low-key parents to give gratitude and responsibility education in the class group. The students all gave thumbs up and said that they also wanted to do their part.

　　As a result, 39 families in the class took action one after another. Many parents contacted pharmacies in 26 countries with the help of their colleagues. After accumulating, they bought a batch of medical N95 masks.

　　In Zhou Wei’s eyes, Gu Jiayue is an enthusiastic person in the class, and her partner has difficulties. She habitually helps and has many good friends in the group.

　　Gu Jiayue, a student from Class Two (2) of Shanghai Private Foreign Language Primary School, presented masks bought from abroad to doctors in Changhai Hospital. Photo courtesy of respondents

　　After returning to Shanghai from Australia on January 31, Gu Jiayue’s parents began to contact major hospitals in Shanghai to express their willingness to donate to doctors. After many contacts, the donation points were set in Changhai Hospital and Ruijin Hospital.

　　After a week’s self-isolation, a family of three drove to Changhai Hospital on February 7th. In Magnolia Square of Changhai Hospital, Dr. Dai, who had been appointed in advance, waited here. Gu Jiayue and his parents quickly handed over more than 400 N95 masks and some medical materials to him.

　　"Uncle kept thanking us, and we kept thanking uncle, and everyone was warm in each other’s hearts. At this moment, I also want to grow up to be a good doctor like my uncle. When my country needs me, I can also fight in the front line. " Gu Jiayue made up his mind.

　　Another 500 masks and a batch of materials will be donated to Ruijin Hospital in the name of the class. Gu Jiayue’s family and classmates are waiting for the notice from the hospital and are ready to deliver them to your door at any time.

　　Doctors at Changhai Hospital praised Gu Jiayue. Photo courtesy of respondents

　　Figure ①: Workers are busy at the construction site of Huada Intelligent Manufacturing R&D Base in Donghu High-tech Zone, Wuhan, Hubei Province. Our reporter Fan Yutian photo

　　Fig. ②: Technicians are installing and debugging in the rod drawing workshop of Central 50GW(G12) solar-grade monocrystalline silicon material smart factory in Yinchuan Economic Development Zone, Ningxia. Our reporter Liu Feng photo

　　Source: National Bureau of Statistics, etc.

　　Panorama of the second phase of Pingshan Biomedical Accelerator, a national bio-industrial base in Pingshan High-tech Zone, Shenzhen, Guangdong. Shenke photo

　　General Secretary of the Supreme Leader emphasized that we should improve the investment expansion mechanism, expand effective investment space, deploy new infrastructure construction ahead of schedule, expand investment in high-tech industries and strategic emerging industries, and continue to stimulate the vitality of private investment.

　　Investment is an important means to expand domestic demand. Since the beginning of the year, various regions and departments have taken concrete measures to speed up the construction of a number of major projects that stabilize investment and benefit people’s livelihood. How to strengthen the synergy mechanism of fiscal, financial and other policy instruments? How to improve the efficiency of financial investment in major projects? How to improve the enthusiasm of private investment by optimizing the business environment? The reporter conducted an interview.

　　Improve and expand the investment mechanism, and continue to exert efforts in policy-oriented development financial instruments.

　　With a "start-up" order, engineering vehicles and cranes roared and started, and more than 500 construction workers quickly put into civil construction. Recently, 419 major projects with a total investment of 240.7 billion yuan rushed to the first quarter of 2023 in Yinchuan, Ningxia.

　　Among them, the smart factory with an annual output of 35 GW of high-purity solar ultra-thin monocrystalline silicon wafer is the second major project invested by TCL Zhonghuan New Energy Technology Co., Ltd. in Yinchuan Economic and Technological Development Zone.

　　"Policy-oriented development financial support has solved the financial problem for us and given enterprises the confidence to continue to invest." Zhang Rufeng, general manager of Ningxia Zhonghuan Asset Management Company, said.

　　Perfecting the investment management model and opening up the blocking points in the field of investment and construction are important contents to promote the supply-side structural reform. In recent years, with the increasing investment and policy support of new energy industry, the photovoltaic industry has developed rapidly. However, because of the large amount of investment, enterprises are relatively cautious in expanding production. At the beginning of 2021, TCL Zhonghuan, a photovoltaic enterprise, plans to invest 12 billion yuan. When landing photovoltaic projects in the northwest, it pays attention to the new investment mechanism of Yinchuan Economic Development Zone.

　　In order to attract the project, the Management Committee of Yinchuan Economic Development Zone joined hands with enterprises to adopt the operation mode of "agent construction+lease+repurchase". "Enterprises can carry their bags and settle in the built factories, and only need to pay the rental fee at the beginning. After the production capacity and benefits of enterprises have formed a certain scale, they will gradually buy back the factories on schedule, reducing the investment burden and operating costs of enterprises and helping the manufacturing industry to go into battle lightly." Mai Xinyu, deputy mayor of Yinchuan and director of the Economic Development Zone Management Committee, introduced.

　　Broadening financing channels and improving the financing mechanism of investment projects can effectively reduce the capital cost of business entities and disperse the risks of the financial system. Yinchuan Economic Development Zone and TCL Zhonghuan jointly set up a project company, and the financial institutions led by China Development Bank issued syndicated loans to the project company, which ensured a large amount of reliable financial support for the project in the construction process.

　　"Good mechanisms and good policies have enabled enterprises to take firm confidence and take root. This time, we invested 4.1 billion yuan to build a new project, and we bought land and built our own factory. " Zhang Rufeng said.

　　Organizing and guiding financial institutions to provide flexible financial services for enterprises under their jurisdiction is one of the "magic weapons" to attract investment in Yinchuan Economic Development Zone in recent years. The "Yinchuan Economic Development Zone Innovation and Development Guidance Fund" with a total scale of 2 billion yuan will help enterprises solve the financing of key projects of 22.635 billion yuan in 2022 alone.

　　According to the data of the National Development and Reform Commission, by the end of November 2022, two batches of funds for policy development financial instruments had been put into use, and more than 2,700 supported projects were all started, which effectively supplemented the capital for major projects. With the joint efforts of all parties, the policy-oriented development financial instruments established in 2022 have become an important force to support infrastructure construction and help stabilize the macroeconomic market.

　　Recently, the People’s Bank of China issued the Report on the Implementation of Monetary Policy in China in the Fourth Quarter of 2022, which clearly stated that in the next stage, it will continue to play the role of policy-oriented development financial instruments to better incite effective investment.

　　"Policy-oriented development financial instruments play an important role in ensuring the financing of key projects, accelerating the formation of physical workload, expanding effective investment and stabilizing the economic market." Zhou Maohua, a macro researcher in the financial market department of China Everbright Bank, said that policy-oriented development financial instruments will further support infrastructure construction to incite effective investment and give full play to the key role of effective investment in stabilizing the economic market.

　　Optimize investment structure, strengthen project management, and make financial investment "value for money"

　　On the project site of Huada Intelligent Manufacturing R&D Base in Donghu High-tech Zone, Wuhan, Hubei Province, welding sparks splashed, and the crane arm transported bundles of fabricated steel bars to the construction site … … Hundreds of construction workers performed their duties and worked hard to speed up the project construction.

　　"After the project got the construction permit in September last year, the construction party continued to fight and is expected to put into production ahead of schedule this year." Li Hao, the project leader of Huada Intelligent Manufacturing R&D Base, said that the project is a key project in Hubei Province and will further promote the development of China’s high-end life science instrument manufacturing industry.

　　Key projects are the "ballast stone" of economic development, effective investment is the "engine" of economic growth, and investment in new infrastructure, high-tech industries and strategic emerging industries is the "new impetus".

　　"To create effective demand with high-quality supply, it is necessary to better play the key role of project investment in optimizing the supply structure." The relevant person in charge of the Wuhan Municipal Development and Reform Commission said that in terms of project selection, Wuhan insisted on making up for shortcomings and strong kinetic energy. Recently, the list of 1,154 major projects with a total investment of more than 1 billion yuan in 2023 was published in the city, covering industries, technological innovation, infrastructure and social livelihood. Among them, the number of advanced manufacturing and modern service industries continued to increase; The function of the project highlights the shortcomings of traditional infrastructure and the expansion of new infrastructure, and a number of key and nodal major urban functional projects and industrial projects are accelerated.

　　The fourth phase of Zhongchuang Xinhang Power Battery and Energy Storage Battery Wuhan Base, located in Wuhan Economic Development Zone, has a total investment of 10 billion yuan, covering the research, development, manufacture and sales of new energy batteries. After completion, it is estimated that the annual output of new energy batteries for power and energy storage will be 25 GWh. The direct line project of Wuhan hub has a total investment of 50.87 billion yuan, and the total length of the project line is about 107 kilometers, realizing the interconnection between the high-speed railway along the river and the three stations … … The "new engine" has many bright spots, and "new kinetic energy" has stepped up its energy storage.

　　To optimize the investment structure and ensure accurate investment, we should further focus on the shortcomings in economic and social development and the weak links in transformation and upgrading. Yang Yinkai, deputy director of the National Development and Reform Commission, said recently that it is planned to allocate 680 billion yuan in the central budget this year, which will further optimize the investment structure and concentrate on handling major, difficult and urgent matters at the national level.

　　Local government special bonds are an important means to promote the expansion of effective investment. In 2023, China plans to arrange 3.8 trillion yuan of local government special bonds. According to the statistics of Huaan Securities, as of mid-March, the issuance scale of new special bonds in 2023 has reached 1.02 trillion yuan. Infrastructure construction of municipal and industrial parks, people’s livelihood services and social undertakings, and transportation infrastructure construction are the top three uses of new special debts, aiming at supplementing shortcomings, tamping foundations and increasing stamina.

　　To speed up the project construction, we should not blindly pave the way, but also strengthen the project compliance management and improve the financial investment efficiency. The relevant departments of Wuhan conduct closed-loop management on the approval, commencement, construction and completion of major projects, and follow up the whole process, strengthen the evaluation and assessment of project performance and the application of results, ensure the efficiency and efficiency of financial resources allocation, and minimize potential risks.

　　"Investment demand has a reasonable return, and investment can continue." Wang Zhigang, a researcher at the Chinese Academy of Fiscal Science, believes that to optimize the investment structure, the government should try to take into account multiple economic goals: First, stabilize growth and maintain a reasonable investment scale, especially for those industries with strong driving effects. The traditional infrastructure industry has a wide radiation area and a strong supporting role for growth, but it is necessary to avoid repeated investment and waste of funds; The second is to make up for shortcomings and strong and weak items. For some weak links in the fields of people’s livelihood such as education, medical care and social security, it is necessary to strengthen infrastructure investment in these fields and promote the formation of human capital and social capital; Third, increase kinetic energy and direct or indirect investment in strategic emerging industries and new infrastructure industries, which is conducive to creating a good external environment for innovation, stimulating the innovation vitality of business entities and promoting high-quality economic development.

　　Continuously improve the business environment and stimulate the vitality of private investment.

　　Walking into the construction site of the second phase of Pingshan Biomedical Accelerator, located in the national bio-industrial base of Pingshan High-tech Zone, Shenzhen, Guangdong Province, high-rise factories came into view, and large-scale green landscape systems dotted it, making the park full of vitality.

　　Recently, the Shenzhen Municipal Development and Reform Commission publicized the list of major public service platforms and key technology research projects to be funded by Shenzhen Biomedical Industry, and the enterprises in the "Accelerator Phase II" — — Shenzhen Puruijin Bio-pharmaceutical Co., Ltd. was selected as the key technology research project to be funded.

　　"A good business environment is the greatest strength for enterprise development, and we have chosen the right one!" Zhang Jishuai, co-founder and chief technology officer of Purin, said that in recent years, Pingshan District has continuously focused on the needs of enterprises, improved industrial support and introduced innovative platforms to help enterprises save a lot of R&D costs, which is very beneficial to the gathering of resources and talents. "The supporting services in the park are perfect, and the fiscal and taxation support policies are strong. This year, the company will continue to increase investment in equipment and scientific research to further enhance its efficiency."

　　Purin is a microcosm of many enterprises in Shenzhen. "The business environment is good, the business confidence is strong, and the investment motivation is sufficient. Shenzhen has always insisted on optimizing the business environment." Wang Jun, deputy director of Shenzhen Development and Reform Commission, said.

　　In recent years, Shenzhen has strengthened legislation in key and frontier areas such as social credit and anti-unfair competition; Innovate the supervision mode of "artificial intelligence+internet plus credit+double randomness" to reduce the interference of administrative law enforcement on the normal production and operation of enterprises; Piloting the protection of intellectual property rights in new industries and new formats, and protecting the legitimate rights and interests of business entities according to law; In the face of emerging enterprises, give them an "inclusive period" of one to two years, and help the healthy development of new industries and new formats … … The data shows that up to now, the number of registered business entities in Shenzhen has reached 3.911 million, and the total amount and entrepreneurial density continue to rank first in the country; There are more than 3,800 specialized and innovative enterprises at all levels, including 442 national "Little Giants", the number of which ranks among the best in large and medium-sized cities in China.

　　"The business environment is not the best, only better." On February 6th, Shenzhen issued "Several Measures on Further Supporting Small and Medium-sized Enterprises’ Bailout and High-quality Development", in order to reduce the production cost of enterprises, effectively expand investment and better stimulate the vitality of business entities. On February 9th, Shenzhen’s first "enterprise opens a window for government, banking and communication" was unveiled. Citizens can successfully register a new company in just three hours, and print out the business license of the new company … …

　　"The key to stimulating the vitality of private investment is to make entrepreneurs have stable expectations and full confidence. This requires continuing to promote the construction of a market-oriented, rule-of-law and international first-class business environment, reducing institutional transaction costs and improving public services through the government’s own continuous reforms, and stimulating the vitality of private investment with high-quality and efficient public services." Wang Zhigang believes that the improvement of the investment environment and the level of investment facilitation are conducive to promoting economic restructuring and the growth of emerging industries, broadening the sources of funds for investment projects and optimizing the supply of public services, promoting consumption upgrading and creating stable employment, and adding lasting momentum to economic development.

　　This year is the first year to fully implement the spirit of the 20th National Congress of the Communist Party of China. All localities and departments are making greater efforts to promote supply-side structural reform, improve the investment expansion mechanism, expand the effective investment space, further play the key role of investment, promote the overall improvement of economic operation, achieve effective improvement in quality and reasonable growth in quantity, and make new contributions to building a new development pattern and making efforts to promote high-quality development.

　　People’s Daily (18th edition, March 27th, 2023)

1905 movie network news The Netflix movie Parade, which was directed by the original script of "Ten Years Left", released its first preview on February 6th. At the same time, official Xuanye Tanjiro produced and sang the theme song "なみしぐさ" for the film. The film attracted the first-line actors from Japan, such as Japan, Japan, Japan, Japan, Japan, Japan, etc., and the lineup was brilliant.

From the perspective of the deceased, this film depicts their feelings and attachment to the living: a joyful tour to explain the bereavement experience, accepting the inevitable grief of life frankly, and evoking all kinds of memories of the audience’s love. Minako (Masami Nagasawa), the hero, is still attached to the world after her death. She gathers the dead together once a month and holds a "parade" to find the people she wants to see.

Masami Nagasawa plays Minako, who is looking for his only son Liang. Sakaguchi Kentaro plays Akira, a melancholy literary youth, Yokohama ryusei plays Victory, a former gangster, Lily Francci plays Michael, a former film producer, Kaori, Tetsushi Tanaka plays Tanaka, a former bank clerk, and Mori Qicai plays Nana, a female high school student who is desperate for survival. There are also,, Ruolin Tuoye,, Denden, Guan Guang (special performance),, and Aoping Da.

The movie Parade will be launched on Netflix on February 29th!

　　Cctv news(Reporter Wang Xiaoying): On August 19th, the Education Department of Gansu Province issued the Notice on Making Overall Plans for the School’s Opening of Autumn Term in 2021 and the Prevention and Control of Epidemic Situation, which clearly stated that according to the work arrangement of the leading group for the joint prevention and control of epidemic situation in COVID-19 and the work requirements of the Ministry of Education, schools in various places should start classes in a classified way of "wrong area, wrong level, wrong time and wrong peak". In principle, the opening time should not be earlier than August 30th.

　　The opening time of colleges and universities in the province is not earlier than August 30, and closed-loop management is implemented.

　　According to the requirements of the notice, colleges and universities in Gansu Province will start school no earlier than August 30th. Colleges and universities assess the conditions for starting school and returning to school according to the principle of territorial management. Colleges and universities that fail to meet the local epidemic prevention and control requirements, fail to implement various prevention and control measures, and fail to implement effective emergency plans and drills cannot start school.

　　In accordance with the principle of "universities outside Lanzhou before universities in Lanzhou, students from within the province before students from outside the province, senior students before junior students, and old students before freshmen", colleges and universities start school at different peaks. In principle, the interval between colleges and universities in each batch is at least 2 days, and there are no more than 2 colleges and universities in each county (district) in each batch. Students return to school at different peaks. Colleges and universities arrange classes and people in different grades in batches, and organize students to report back to school in an orderly manner. Students who return to school every day should not exceed the number of students in one grade. Students should return to school in strict accordance with the requirements of the school notice. Without the consent of the school, students are not allowed to return to school in advance.

　　Teachers and students in colleges and universities must hold negative proof of nucleic acid detection within 48 hours when they return to school. After the teachers and students in colleges and universities across provinces and cities arrive at school, colleges and universities will organize another nucleic acid detection, suspend off-campus offline training, and overseas teachers and students will not return to school without the consent of the school. According to the situation of epidemic prevention and control, if the opening time of colleges and universities needs to be postponed, it will be notified separately.

　　According to the notice, teachers, students and employees in high-risk areas will be suspended from returning to school. Teachers, students and employees who have lived in high-risk areas for 14 days before the start of school will be isolated by the local epidemic prevention and control leading group for 14 days. After the centralized isolation expires and the results of three nucleic acid tests are negative, they can return to school. Teachers, students and employees in low-risk areas should return to their places of residence 14 days before the start of school, continue to do a good job of personal health monitoring for 14 days in accordance with the relevant regulations of the local epidemic prevention and control leading group, and implement closed-loop management after the start of school.

　　In the notice, the proposed opening schedule of the autumn semester of 2021 for ordinary undergraduate colleges and universities in the province and the proposed opening schedule of the autumn semester of 2021 for vocational colleges in the province were clarified. Gansu Medical College, the earliest school, is scheduled to start on August 30, 2020, and Lanzhou University, the earliest college in Lanzhou, is scheduled to start on September 1. The latest is Gansu Communications Vocational and Technical College, and the planned start date is October 8, 2021.

　　Primary and secondary schools and kindergartens: the evaluation conditions are not earlier than August 30th.

　　The primary and secondary schools in the province start school at a staggered peak according to the principle of grading and classification, and the start time is not earlier than August 30. All localities assess the conditions for starting school and returning to school according to the principle of territorial management. If the epidemic prevention and control conditions fail to meet the local epidemic prevention and control requirements, the prevention and control measures are not implemented in place, and the effective emergency plans and drills are not implemented, schools cannot start school. Evaluate the conditions for starting school and returning to school one by one, report the starting time to the Provincial Department of Education seven days in advance, and suspend off-campus offline training.

　　Kindergarten opening time is not earlier than August 30th. All localities assess the conditions for opening the park and returning to school according to the principle of territorial management. If the epidemic prevention and control conditions fail to meet the local epidemic prevention and control requirements, the prevention and control measures are not implemented in place, and the effective emergency plans and drills are not implemented, kindergartens cannot open the park. After the kindergarten opening work plan and emergency response plan are evaluated by the local office of the leading group for epidemic prevention and control at or above the county level, the municipal education administrative department will co-ordinate and report the opening time to the Provincial Department of Education seven days in advance.

　　Guangming Daily reporter Deng Hui

　　"Does the closure of Wuhan damage the human rights of Wuhan people?"

　　"How to understand the importance of establishing historical thinking in the critical period of epidemic prevention and control?"

　　… … … …

　　On the afternoon of March 9, a "phenomenal" online ideological and political course for millions of college students to watch online at the same time opened in the "cloud". 50.278 million people "squeezed" into the live broadcast room, and the total number of visits to related websites, clients and social media reached 125 million. These problems that plagued many young students during the epidemic were also thrown out in turn.

　　This is an ideological and political lesson about epidemic prevention and control. In just over two hours, four ideological and political "big coffees" interpreted the decision-making arrangements of the Party Central Committee with the Supreme Leader as the core on epidemic prevention and control, analyzed the remarkable advantages of the Communist Party of China (CPC)’s leadership and Socialism with Chinese characteristics’s system highlighted by China’s anti-epidemic, told touching stories about the frontline of epidemic prevention and control, and also passed on the belief of winning and the responsibility of youth to the hearts of students.

　　Speak to the problem and really play a role in solving doubts and doubts.

　　The live broadcast officially started at 2: 30 pm. Chu Hang, a doctoral student at Tsinghua University Marxist Institute, debugged the equipment early and kept it in front of the computer.

　　When the epidemic broke out, Chu Hang just went back to his hometown in Henan with his parents to visit relatives, but he didn’t want to be "trapped". During the long holiday, he brushed the news every day, and a lot of question marks piled up in his mind: "For some time, there have been doubts about the measures to close the city, the promotion of conspiracy theories, and the dissemination of false facts, and there has been an undercurrent in the public opinion field."

　　"How do you view the responsibility of daring to go retrograde and sacrifice dedication during the epidemic prevention and control period?" "How to transform Socialism with Chinese characteristics’s institutional advantages into governance efficiency?" … … For some time, these problems have plagued many young students.

　　To teach the ideological and political course of epidemic prevention and control well, we must aim at the students’ confused problems and really play a role in solving doubts and doubts. This ideological and political course has a delicate classroom design — —

　　To tell the depth of the theory. During the epidemic, some foreign media claimed that the closure of Wuhan was a violation of the human rights of Wuhan people, while others questioned whether it was worthwhile to block the spread of the virus at the expense of huge economy. Professor Ai Silin from Tsinghua University, based on China’s specific practice in fighting the epidemic, guided students to deepen their understanding of the basic theory of Marxism and the latest achievements of Marxism in China.

　　Tell the strength of reality in detail. Over the past few days, the situation of epidemic prevention and control in COVID-19 has continued to improve, and the order of production and life has been accelerated. The international community also highly praised China’s measures of epidemic prevention and control. Why can the Communist Party of China (CPC)? How can China’s institutional advantages be reflected? Professor Qin Xuan focuses on "What does the epidemic test tell us" and analyzes the remarkable advantages of the Communist Party of China (CPC)’s leadership and Socialism with Chinese characteristics’s system highlighted by China’s anti-epidemic.

　　To tell the dimension of history. The Chinese nation has experienced many hardships in its history, but it has never been crushed. Instead, it has become more and more frustrated, constantly growing up and rising from the hardships. Starting from the course of the epidemic prevention struggle in China’s history, Professor Wang Binglin shared the historical experience and wisdom of rising from hardships and turning crises into opportunities.

　　Also tell the emotional temperature. Professor Feng Xiujun from Central University of Finance and Economics took "War ‘ Epidemic ’ The theme of "Youth Responsibility and Responsibility" shows the "Butterfly Change" of young people at present, and also shows us the patriotic struggle of generations of young people in China.

　　"The teachers are teaching the current social concerns, the demands of the masses, international public opinion and my own concerns. After listening to the class, my heart feels practical and warm." Chu Hang said.

　　Interlocking, building a solid foundation of theoretical consciousness and self-confidence.

　　Zhou Ping, an associate professor at the School of Marxism of Capital Normal University, also stayed in front of the computer early.

　　Touching cases emerging in epidemic prevention and control provide rich and vivid materials for ideological and political courses. However, how to make good use of these materials and give a good ideological and political lesson on epidemic prevention and control has always haunted the young ideological and political teacher.

　　"Ideological and political course needs ideological height and theoretical depth to convince and guide students, which requires teachers to pay attention to logical self-consistency and build a reasonable analytical framework." This open class made her suddenly enlightened: "For example, Teacher Ai’s class, from ‘ Man and man-man and nature-ideas of man and the world ’ Expand from ‘ Ensure people’s life safety and health ’ From the perspective of human rights embodied in the book, it further reveals the human subjectivity behind it and the anthropocentrism caused by it, which leads to the analysis of the relationship between man and nature, and finally comes to the conclusion that the victory of epidemic prevention and control needs to build a war ‘ Epidemic ’ The community of destiny has produced the power to convince people. "

　　To teach the ideological and political course of epidemic prevention and control well, students must be convinced with thorough theories. It is not easy to prepare such a wonderful lesson.

　　"This is a special ideological and political lesson that I have worked hard to prepare." What Ai Silin hopes is to guide college students to analyze problems from the standpoint, viewpoint and method of Marxism by discussing the issues that young people care about: "Help them clarify some understandings, strengthen the people’s standpoint, cherish life and nature, develop a green, civilized and healthy lifestyle, further deepen their understanding of Marxist theory, and enhance their theoretical consciousness and self-confidence."

　　Feng Xiujun believes that in this process, interlocking questioning is very important: "The key is to find and respond to the problems encountered by young people after 90 s and 00 s in the process of growth and responsibility. Push forward with interlocking questions, from ‘ Understanding of youth ’ To ‘ The responsibility of youth ’ , and then to ‘ What responsibility ’ Respond one by one in the progression of the problem, in order to be sensible. "

　　An Qiaozhen, a teacher of ideological and political course in Hebei Normal University, was deeply touched: "The vivid explanation reflects a profound and solid theoretical foundation; The touching story reflects the responsibility and insight of the feelings of home and country; Close to the soul and directly hit the soul, this is the ideological and political lesson that enters the mind. "

　　"In a few days, it will be the first anniversary of the symposium for teachers of ideological and political theory courses hosted by the General Secretary of the Supreme Leader. This webcast teaching is also the implementation of the General Secretary of the Supreme Leader ‘ 3·18’ An important demonstration of the spirit of important speeches and the progress of deepening the reform and innovation of ideological and political courses. " The relevant person in charge of the Social Science Department of the Ministry of Education told the reporter.

　　Speak with emotion, and bring up the most beautiful flash of youth.

　　In the live class, there are not only sharp questions and profound theories, but also empathy.

　　"Over the years in ‘ After 90 ’ 、‘ 00 ’ There are also many labels on the body, such as coquetry, selling cute, sleeping late, and greedy for food … … After reading this, we are often worried. Is it reliable to hand over our future to them? " When talking about the young "guardian of China", Feng Xiujun showed the young people’s youth "butterfly change" with a series of pictures of the war "epidemic" and vivid stories, and choked several times when talking about the emotional place.

　　Seeing this, the eyes of Shi Hanqing, a student of the Central University of Finance and Economics in front of the screen, were also wet: "The teacher talked about ‘ Youth is the process of breaking cocoon into butterfly again and again ’ I deeply agree with this view that young people are growing up and shouldering responsibilities and responsibilities in times of difficulties and tempering. "

　　Talking about the ideological and political course of epidemic prevention and control well, and answering students’ questions about where to exert oneself in life, who to use affection for, how to use one’s heart, what kind of person to be, etc., must be said with emotion, so that students can have emotional resonance in perceptual experience and practical thinking.

　　"Young people should think about it. What can we do?" This has become the common goal of the four teachers — — Based on students’ concerns about eating wild animals, Ai Silin suggested that college students should start from themselves and form a civilized, healthy and green lifestyle. After telling the story of youth, Feng Xiujun also summed up the experience of taking the exam for young students who are experiencing the test of the "epidemic" in the war, and encouraged them to take root in the land of China and write a capitalized youth with great ambition, great heart, great responsibility and great deeds.

　　Profound, emotional and full of concern, the story has turned into the eager voice of young students — —

　　"With the psychology of listening casually, whoever thinks of it will be fascinated."

　　"No country in the world can be twisted into a rope like China, and we will overcome the difficulties together. We fully feel the power of China!"

　　"An inch of mountains and rivers and an inch of blood, during the epidemic, a new generation of young people will never do it ‘ I don’t know if there is a Han, what about Wei and Jin ’ People in the Peach Blossom Garden! "

　　… … … …

　　This is the best echo in the classroom, and it also drives the most beautiful flash of youth.

　　Guangming Daily (March 12, 2020, 08 edition)

　　Zhongxin Jingwei Client October 11 (Dong Xiangyi) Although the property market has not been booming in the "Golden Week" this year, Xuzhou, Jiangsu Province took the lead in launching regulatory policies just after the National Day holiday, followed by Shaoxing, Zhejiang Province. The policies of the two places focus on the record price management of commercial housing, and at the same time, they also clarify the restrictions on sales, "land price restrictions, and competitive construction". According to institutional data, the number of national real estate control policies in the first nine months of this year was as high as 403 times.

　　According to the analysis, the policies issued by Xuzhou and Shaoxing further illustrate the orientation of not relaxing regulation. Especially in the fourth quarter, the national housing enterprises will actively promote sales and destocking, and it is also crucial to stabilize the market order at this time. It is expected that there will still be regulation and control throughout the country in the fourth quarter, focusing on the implementation of the "three stable" policy. In addition, the promotion of real estate enterprises will still have a certain driving effect on the transaction, the overall decline of the market scale can be controlled, and the house price will still be stable.

　　At the same time, the strict implementation of the "three red lines" will be postponed until 2023, which is also confirmed by the media as a misunderstanding and will still be fully implemented in the whole industry from 2021. As for whether it affects housing prices, in the opinion of experts, since the current policy has definitely not landed, it will have no impact on the market.

　　Xuzhou and Shaoxing introduced regulation after the festival.

　　Start the property market "double cannon"

　　On the evening of October 9th, official website of Xuzhou Housing and Urban-Rural Development Bureau issued the Notice on Further Promoting the Healthy Development of Urban Real Estate Market, which clarified many aspects such as homestead supply, filing price management, decoration behavior and price supervision, real estate financial policy, commercial housing sales restriction, housing security and so on.

　　The notice is clear, and the management of the sales price of commercial housing should be strengthened. Newly-filed commercial residential projects with a parcel construction area of less than 100,000 square meters shall be filed at a one-time price; If the parcel construction area is higher than 100,000 square meters, the price can be put on record by stages, each time the record is not less than 100,000 square meters, and the last period is less than 100,000 square meters, so the record can be made according to the facts; The filing price shall not be adjusted within one year.

Source: Xuzhou Housing and Construction Bureau website

　　Xuzhou also stipulates that all financial institutions should strengthen the examination of the use of credit funds and the detection of the flow direction, and take various effective measures to prevent consumer loans and other loans from being used for buying houses in violation of regulations.

　　Xuzhou’s policy of "continuing to adhere to the policy of restricting commercial housing transactions" is not new. According to the Notice on Improving the Opinions on the Stable and Healthy Development of the Urban Real Estate Market in Xuzhou in June 2018, the sales restriction policy had been implemented at that time.

　　Yan Yuejin, research director of the think tank center of Yiju Research Institute, told Zhongxin Jingwei that even if the policy content is reiterated, it will continue to release the signal of policy tightening, at least similar to the constraint of six-year sales, and it can also regulate housing transactions and prevent all kinds of housing speculation, which also makes the effect of the sales restriction policy further amplified.

　　According to the housing price data of 70 cities released by the National Bureau of Statistics in August, the sales price of new commercial housing in Xuzhou increased by 0.8% month-on-month and 11.6% year-on-year, second only to Yinchuan, Tangshan and Xining. The sales price of second-hand houses increased by 0.8% month-on-month and 7.3% year-on-year.

　　According to the data of Xuzhou Yibaifang, in the first three quarters of this year, the total land transaction income in Xuzhou reached 37.28 billion yuan, up 73% year-on-year, ranking 29th in the country. Quarterly, in July, August and September alone, the total amount of land transactions in Xuzhou was close to 12.5 billion yuan.

　　"The introduction of this policy in Xuzhou further illustrates the orientation of housing prices and expected stability." In Yan Yuejin’s view, Xuzhou’s latest new commodity housing price index rose fourth year-on-year in the country, which belongs to a city with overheated housing prices, so the policy was introduced in line with expectations.

　　On the same day, Shaoxing, a prefecture-level city in Zhejiang Province, followed Xuzhou and became the second city to be upgraded and regulated after the National Day holiday. According to data from the Central Plains Real Estate Research Center, Shaoxing is the 27th city in China to tighten control policies.

　　The website of Shaoxing Housing and Construction Bureau issued the Notice on Further Promoting the Smooth Operation of the Real Estate Market, emphasizing the strict implementation of the policy of "limiting land prices and competing for construction", the strict implementation of the "double filing" system, the strict management of sales by stages, the strict regulation of market order and the strict implementation of the main responsibility.

Source: website of Shaoxing Housing and Construction Bureau

　　The most important policy is to strictly implement the "double filing" system. The price filing of newly opened projects must comprehensively consider other similar housing prices or "land price+cost" and other factors in the same region, and the price filing of additional projects shall not be higher than the price of commercial housing for the first time.

　　Some analysts believe that this provision means that the developer’s autonomy is compressed, and the decision-making power of filing price tends to be regulated by the government. For developers, the filing price will be more scientific and reasonable, and will be subject to stricter supervision, and the filing price will not fluctuate greatly; For property buyers, the price of the real estate on sale will also be effectively controlled, and there is no need to worry about the ups and downs of housing prices.

　　In addition, for those who have obtained the pre-sale permit or filed the sale of existing homes, all the houses to be sold and the price of each house shall be disclosed at one time within ten days, and shall not be sold at a price higher than the declared price. In addition, increase land supply and implement differentiated land supply. Strictly implement the policy of "limiting land price and competing for construction" and strictly control premium rate and floor land price.

　　Yan Yuejin pointed out that from the content of Shaoxing’s property market policy, references to similar restrictions on purchases and loans are reduced, but more are aimed at land prices and housing prices. This also shows that in the current special period, we are still encouraging housing transactions, but we should guard against the speculation of land prices and housing prices.

　　However, institutional data show that there is no sign of rising house prices in Shaoxing recently. According to the data of Fangtianxia, the average reference price of second-hand houses in Shaoxing in September was 9436 yuan/flat, down 9.29% from August and 21.65% from the same period last year.

Photo by Xin Jingwei in the data map

　　The influence of policies in the two places is limited.

　　The national real estate regulation reached 403 times.

　　"These policies are all lively, not fundamental, and credit has not been fully tightened." Zhang Dawei, chief analyst of Zhongyuan Real Estate, told Zhongxin Jingwei reporter, "Looking at the contents of the regulation policies of these two cities separately, they are close to those of most cities, and the actual regulation policies are not strong, mainly due to the tightening of the filing price adjustment, which is expected to have a certain impact on the market. However, the impact is limited. "

　　Yan Yuejin said that after the "Eleventh" holiday, including the introduction of policies in Xuzhou and Shaoxing, further explained the orientation of not relaxing regulation. Especially in the fourth quarter, the national housing enterprises will actively promote sales and destocking, and it is also crucial to stabilize the market order at this time.

　　At the same time, after the festival, it was also reported that the strict implementation of the "three red lines" will be postponed until 2023. According to shanghai securities news, the news is suspected of being misread, and the "three red lines" policy has not been extended, and will still be fully implemented in the whole industry from 2021.

　　According to media reports, "three red lines" means that the asset-liability ratio of real estate enterprises after excluding advance payments shall not be greater than 70%; The net debt ratio of housing enterprises shall not be greater than 100%; The "cash short debt ratio" of housing enterprises is less than 1.

　　With the gradual tightening of the financing end of real estate enterprises, the probability of developers increasing discounts and promotions in order to reduce debts is greatly increased. As for whether it directly or indirectly affects housing prices, in the opinion of experts, it is certain that the policy has not landed now, so it has no impact on the market. It is not too late to see the impact when the policy is implemented in the future.

　　In the third quarter of 2020, the central government held several meetings to emphasize that the positioning of "housing and not speculating" remained unchanged, and regulatory measures were deployed from various aspects. Since July, many cities have tightened their control policies, such as Hangzhou, Ningbo, Shenzhen and Chengdu, to stabilize market expectations. From the perspective of regulatory content, the policies introduced by various localities are mainly manifested in restricting purchases, upgrading loans, increasing the number of years of restricted sales, increasing the number of years of exemption from value-added tax, strengthening the management and control of the land market, strengthening market supervision, and clarifying that high-level talents and families without houses have priority in buying houses, so as to ensure just-needed and curb real estate speculation.

　　According to the statistics of the Central Plains Real Estate Research Center, the total number of real estate regulation and control in the country in September this year was 35 times. From July to September alone, more than 27 cities issued more than 30 regulation and tightening policies; From January to September, the national real estate regulation and control policies totaled 403 times.

　　Zhang Dawei believes that although the tightening of regulation policies in August and September is not strong, it still represents the trend of real estate regulation and control, that is, one city, one policy, no speculation in housing, and maintaining the stability of the real estate market. As long as it rises too fast, it will inevitably lead to regulation and upgrading.

　　The latest report "Summary and Trend Outlook of China Real Estate Market in the Third Quarter of 2020" released by the Central Finger Research Institute points out that looking forward to the fourth quarter, some cities with strong expectations of rising house prices and land prices will further upgrade their property market policies to stabilize their expectations, but with the gradual emergence of policy effects, the space for policy tightening has been significantly reduced. Some cities will further increase the efforts to attract talents and relax the restrictions on settlement in terms of increasing housing subsidies and strengthening housing security, which will further promote the development of the real estate market.

　　Golden week property market eclipsed.

　　How to get the house price in the fourth quarter

　　Judging from the statistics released by many institutions, the National Day holiday just passed did not give the property market too many opportunities for performance. The performance of "Silver Ten" was light, and the new and second-hand housing markets showed a scene of "uneven heat and cold". According to the analysis, with the increase of residents’ demand for tourism, buyers pay more attention to travel during the long holiday and pay less attention to the property market. In the past three years, the so-called National Day property market Golden Week has faded.

　　According to the monitoring data of Zhuge Housing Search Data Research Center, the sales area of new houses in 10 key cities (Beijing, Shenzhen, Wuhan, Suzhou, Dalian, Fuzhou, Qingdao, Dongguan, Wenzhou and Tai ‘an) was 728,600 ㎡ during the two holidays, a slight increase of 1.6% compared with last year’s National Day Week. On the whole, the sales volume of this year’s holiday is basically the same as that of last year. However, due to the fact that this year’s holiday is one day longer than that of previous years, the average daily sales area of the 10 key cities in 2020 is 91,100 ㎡, down 11.1% year-on-year. The average daily sales area is the lowest value of National Day Week since 2015.

Source: Zhuge looking for a house

　　In the second-hand housing market, the data released by RealData showed that among the 18 cities monitored during the Golden Week, the average daily transaction volume of second-hand housing increased by 50% compared with the same period of last year, and the average transaction price of second-hand housing increased by 12% year-on-year.

　　Zhang Dawei believes that the impact of the epidemic on the real estate market has passed, and the subsequent market will continue to heat up. However, the frequent occurrence of regulatory policies has kept the increase at a "warm" level.

　　According to the report of the Central Finger Research Institute, in the fourth quarter, the national real estate market will show a situation that "the market scale will be slightly adjusted, the enthusiasm for new construction will slow down, and the investment growth rate will remain at a high level". With the rational return of demand under the tightening of regulation and control, the market scale will return to the adjustment channel under the cyclical action, but the active promotion strategy adopted by real estate enterprises will still have a certain driving effect on the transaction, and the overall decline of the market scale can be controlled; The overall operation of house prices will remain stable, and the increase of improved products and the emergence of the advantages of first-and second-line products will drive the average selling price to continue to rise slightly. (Zhongxin Jingwei APP)